Vince Cable
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Vince Cable: 'Public will react against RBS bonuses'

The Business Secretary, Vince Cable, has said that he thinks the public will find it hard to understand bonuses paid out by Royal Bank of Scotland, despite the bank making an £8.2bn pre-tax loss for 2013.

Although the bank made an underlying profit, it was sent into the red by fines, compensation, and bad debt.

The bank, which was rescued by the taxpayer in 2008, has set aside £576m for staff bonuses in 2013 - which Mr Cable says people may react against.

  • 27 Feb 2014
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